In this paper, the Hybrid Magnetic Bearing (HMB) model is established in Simscape with the physical object-based modeling method. The HMB model is used to analyze the change of the air gap magnetic flux density under the different control currents. The physical model simulation result is highly consistent with the results of the Maxwell Finite element method analysis, and the simulation speed is much faster. The physical object-based modeling method provided a new solution for the rapid modeling, simulation, and dynamic characteristics analysis of the electromagnetic coupling devices.